Sinopec et al. established a new energy development company in Shanghai.

According to the APP, recently Shanghai Qingpu Xincheng Energy Development Co., Ltd. was established with a registered capital of 54 million RMB. Its business scope includes contract energy management, operation of electric vehicle charging infrastructure, information consulting services, and lubricant oil sales. According to equity penetration displayed on , the company is jointly owned by China Petrochemical Corporation's China Petrochemical Sales Co., Ltd. and others.